abrdn plc decreased its holdings in shares of Organon & Co. (NYSE:OGN – Get Rating) by 41.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,215 shares of the company’s stock after selling 42,315 shares during the period. abrdn plc’s holdings in Organon & Co. were worth $2,144,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in OGN. Widmann Financial Services Inc. lifted its position in Organon & Co. by 16.1% in the first quarter. Widmann Financial Services Inc. now owns 6,723 shares of the company’s stock valued at $234,000 after purchasing an additional 931 shares during the period. Column Capital Advisors LLC lifted its position in Organon & Co. by 112.0% in the first quarter. Column Capital Advisors LLC now owns 850 shares of the company’s stock valued at $30,000 after purchasing an additional 449 shares during the period. Bourgeon Capital Management LLC lifted its position in Organon & Co. by 4.2% in the first quarter. Bourgeon Capital Management LLC now owns 300,109 shares of the company’s stock valued at $10,483,000 after purchasing an additional 12,027 shares during the period. CENTRAL TRUST Co lifted its position in Organon & Co. by 4.9% in the first quarter. CENTRAL TRUST Co now owns 9,621 shares of the company’s stock valued at $336,000 after purchasing an additional 450 shares during the period. Finally, Calamos Advisors LLC lifted its position in Organon & Co. by 15.4% in the first quarter. Calamos Advisors LLC now owns 66,712 shares of the company’s stock valued at $2,330,000 after purchasing an additional 8,892 shares during the period. Institutional investors and hedge funds own 70.85% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on OGN shares. Morgan Stanley dropped their target price on shares of Organon & Co. from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, July 8th. The Goldman Sachs Group started coverage on shares of Organon & Co. in a report on Wednesday, April 27th. They issued a “buy” rating and a $40.00 target price for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Organon & Co. has a consensus rating of “Moderate Buy” and an average target price of $39.00.
Organon & Co. Price Performance
Organon & Co. (NYSE:OGN – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.34. Organon & Co. had a net margin of 20.42% and a negative return on equity of 103.33%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the company posted $1.56 EPS. The company’s revenue was up 4.1% on a year-over-year basis. On average, equities analysts expect that Organon & Co. will post 5.28 earnings per share for the current fiscal year.
Organon & Co. Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Monday, May 16th were given a dividend of $0.28 per share. The ex-dividend date was Friday, May 13th. This represents a $1.12 dividend on an annualized basis and a yield of 3.52%. Organon & Co.’s dividend payout ratio (DPR) is currently 21.96%.
Organon & Co. Company Profile
Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.
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